Feeling unsure about what your cash to close will be in Markham Woods? You are not alone. Whether you are buying or selling in the Wekiwa Springs area, closing costs can feel opaque until someone breaks them down line by line. In this guide, you will learn who typically pays what in Florida, the Seminole County items that show up on closing statements, how costs shift for resales versus new construction, and realistic examples at local price points. Let’s dive in.
Quick snapshot: who pays what in Florida
Closing costs are a mix of lender charges, title and settlement services, government taxes and recording fees, plus prepaids like insurance and property tax escrows. Contracts can reassign costs, but here is the common Florida pattern.
Buyer costs: common line items
- Loan fees: origination, underwriting, application, processing
- Third-party fees: appraisal, credit report, flood certification
- Title-related: lender’s title insurance policy, title search, settlement/closing fee
- Government and recording: deed and mortgage recording, small clerk fees
- Prepaid items: first-year homeowner’s insurance, property tax escrow, prepaid mortgage interest
- Inspections and optional survey
- HOA/condo estoppel or transfer fees when applicable
The lender must provide a Loan Estimate within three business days of application that outlines expected charges. Review how the Loan Estimate works so you know where each cost appears.
Seller costs: common line items
- Real estate commission, typically the largest seller expense
- Owner’s title insurance policy where customary, plus related title charges
- State documentary stamp tax on the deed
- Mortgage payoff(s) and any lien payoff fees
- Prorations: property taxes and HOA dues based on the closing date
- Any negotiated concessions or credits to the buyer
- Settlement/closing fee if shared or assigned by contract
In many Florida transactions, sellers pay the owner’s title policy, while buyers pay lender-related fees. Local custom and your signed contract ultimately control the split.
Florida and Seminole County fees to expect
Transfer and mortgage-related taxes
Florida assesses documentary stamp tax on deeds and other mortgage-related taxes. The Florida Department of Revenue details documentary stamp tax and the intangible tax on mortgages. In Florida practice, sellers commonly pay the documentary stamps on the deed, and buyers who finance pay the intangible tax tied to the new mortgage. Contract terms may vary.
Recording and clerk fees
Seminole County charges statutory recording fees for deeds, mortgages, and releases. These are usually modest per-document amounts. You can confirm current schedules with the Seminole County Clerk of the Circuit Court & Comptroller.
Property tax prorations
Florida property taxes are paid in arrears. At closing, taxes are prorated based on the closing date and the county’s tax calendar. If you close mid-year, you will see a proration credit or charge that reflects each side’s share of the year’s bill. Prorations can meaningfully change your final cash to close.
HOA and community fees
Many Markham Woods Corridor resales involve HOAs. Expect an HOA estoppel or disclosure letter fee, which often ranges from a few hundred dollars. Newer communities may also collect capital contributions or the first period of dues at closing. Ask the HOA or management company for the current fee schedule.
Resale vs. new construction in Markham Woods
Resale homes
- Buyers typically cover appraisal, inspections, lender fees, and the lender’s title policy
- Sellers often pay the owner’s title policy and the documentary stamp tax on the deed
- HOA estoppel letters and payoff statements are common
- Repairs or credits may be negotiated after inspection
New construction
Builder contracts sometimes allocate costs differently from local resale custom. Builders may offer closing cost incentives, often tied to using a preferred lender or title company. Read your contract closely and ask for an itemized estimate.
New-build buyers commonly see:
- Intangible tax on the new mortgage
- Initial HOA contributions or startup fees at closing
- Possible pass-throughs of utility or impact-related fees, depending on the contract
- Builder administrative or document prep fees
If you use financing, you will still receive a Loan Estimate and a Closing Disclosure. Learn how to read the Closing Disclosure so you can compare it with earlier estimates.
What it may cost: local examples
These examples are illustrative only. Your numbers will vary by lender, contract terms, HOA, and exact closing date. Always verify with your lender and title company.
Example A: $350,000 resale
- Buyer closing costs: about 2% to 5%, or roughly $7,000 to $17,500
- Seller total costs: about 6% to 9%, or roughly $21,000 to $31,500, largely driven by commission plus title and state transfer tax
Typical buyer drivers include lender fees, appraisal, title charges, and prepaids for taxes and insurance. Typical seller drivers include commission, owner’s title policy where customary, documentary stamps on the deed, and prorations.
Example B: $550,000 mid-range home
- Buyer closing costs: about 2% to 5%, or roughly $11,000 to $27,500
- Seller total costs: about 6% to 9%, or roughly $33,000 to $49,500
Example C: $800,000 higher-priced or new-build
- Buyer closing costs: about 2% to 5%, or roughly $16,000 to $40,000
- Seller total costs for an individual seller: about 6% to 9%, or roughly $48,000 to $72,000
- New construction notes: buyers may see intangible tax on the new mortgage and initial HOA contributions. Contract language controls who pays other builder-related fees.
How to plan and reduce surprises
- Ask for early estimates. Your lender must provide a Loan Estimate within three business days of application. Request a title company estimate early too.
- Compare line items. Review the Closing Disclosure against your Loan Estimate and ask questions on any differences.
- Get a seller net sheet. If you are selling, ask your listing agent for a net sheet that shows expected proceeds after commission, taxes, title, and prorations.
- Clarify HOA charges. Request estoppel fees, capital contributions, and any transfer fees in writing from the HOA or management company.
- Read builder contracts carefully. If buying new construction, confirm whether incentives require using preferred lenders or title partners and what fees are due at closing.
- Time your closing thoughtfully. Prepaid interest, insurance escrows, and tax prorations change with the calendar. Your closing date can affect cash to close.
Local checkpoints before you finalize numbers
- Florida Department of Revenue: confirm documentary stamp and intangible tax rules
- Seminole County Clerk: verify current recording fees and document requirements
- Lender and title company: request itemized, written estimates
- HOA or builder: obtain fee schedules and disclosures in advance
Ready to talk through your numbers?
If you are weighing a move in the Markham Woods Corridor, a clear view of closing costs helps you plan with confidence. If you would like a personalized buyer cost estimate or a seller net sheet tailored to your home, reach out for a local, line-by-line breakdown. Schedule a free consultation with Tara Mruk to get started.
FAQs
Who typically pays for owner’s title insurance in Seminole County?
- In many Florida transactions the seller pays the owner’s title policy, but this is negotiable and depends on the contract and local custom.
How are Florida property taxes prorated at closing in Seminole County?
- Taxes are paid in arrears and prorated based on the closing date and county records, so each side pays its share for the year.
What state taxes affect my closing if I am financing?
- Purchases with a new mortgage commonly include Florida’s intangible tax on the mortgage and documentary stamp taxes; confirm specifics with the Florida Department of Revenue.
Are HOA fees due at closing in Markham Woods resales?
- Most HOAs require an estoppel or payoff letter fee, and you may see prorated dues; amounts vary by association or management company.
How do new-construction closing costs differ from resales?
- Builder contracts may shift costs, add initial HOA contributions, and include administrative fees; incentives can offset costs when using preferred providers.
Where can I verify recording fees for Seminole County?
- Check the Seminole County Clerk of the Circuit Court & Comptroller for the current recording fee schedule and document requirements.
